 savior70
Joined: 25 Mar 2009
Posts: 1422
Location: Florida
168.75 Dollars($)
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 Posted: Mon Apr 20, 2009 6:51 am Post subject: |
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Hi
I don't have any personal experience of deficiency judgment in Florida. But as far as I'm aware of, this is allowed in Florida. The mortgage holder files a motion for the deficiency due to foreclosure and a separate hearing is held by the court. During the hearing, the lender has to prove that there was indeed a difference due to the foreclosure. If the court is convinced that the property was worth less than the actual loan amount, it will give the lender a deficiency judgment against the borrower. |
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